I was very interested yesterday to read the article in the Globe & Mail by University of Toronto Professor Richard Florida, and Ian Hathaway, Research Director for the Center for American Entrepreneurship, and Senior Fellow at the Brookings Institute. The article by Florida and Hathaway draws the same conclusions as my research, providing even more precise data to support their disturbing conclusions. It is not hard to find many additional articles on these issues. Ironically, also yesterday, a LinkedIn connection shared a post by Sciences, Innovation, and Economic Development Canada with a very upbeat, positive assessment of venture capital for startups in Canada. This is the essence of the problem. Since I came to Canada years ago now, I have seen a pollyannaish state of denial about the true situation for entrepreneurship, immigration policy, and the lack of “smart” venture capital for Canadian startups. No amount of counter-evidence has changed this mistaken rosy outlook. Without a recognition of these problems, nothing will change.
An insightful interview with Reid Hoffman, venture capitalist and founder of LinkedIn. But to my mind, Hoffman seems blase’ about Big Ideas and “deep tech” funding. I share the views of Startup Genome founder, Max Marmer, and bemoan the limited focus of VC’s on world-changing technologies, leaving it to billionaire angels. I also sense myopia about the ongoing intense debate over the distortion of the sharing economy by Uber, Airbnb, and others.